On 27 May, 2019, a Public Interest Litigation (“PIL”) was filed by financial economist Abhijit Mishra in the Delhi High Court challenging the operation of PayTm Payments Bank’s Post-Paid Wallet facility. The petition primarily revolves around the alleged illegal operation of the Paytm Post Paid wallet which provides lending facilities in contravention of law which regulates such facility. The Division Bench headed by Chief Justice Rajendra Menon and Justice Brijesh Sethi issued a notice to the Reserve Bank of India (RBI) and PayTm Payments Banks Limited seeking their stand on the same.
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